Aust stocks open flat

Local market begins little changed as Wall St slips on shutdown reality.

The Australian stock market opened flat after falls on Wall Street as the reality of the United States government shutdown depressed markets along with fears of a American debt default.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index gained 0.11% to 5,221.1 points, while the broader All Ordinaries index added inched 0.07% higher to 5,218.8 points.

In economic news on Thursday, the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (PSI) for month just ended showed a marked improvement in the sector.

No major equities news is expected.

In Australia, the market on Wednesday firmed as investors expect the partial US government shutdown to be resolved soon.

The benchmark S&P/ASX200 index gained 8.8 points, or 0.17%, to 5,215.6 points.

The broader All Ordinaries index added 8.6 points, or 0.17%, to 5,214.9 points.